Mike McGlone Hints at Gold’s Potential Outperformance in Future Against Bitcoin

Bitcoin’s performance against gold has been a focal point recently. While Tim Draper has predicted gold’s demise, citing its lack of movement similar to Bitcoin, Mike McGlone, Bloomberg Intelligence’s senior commodity strategist, presents a potential twist. Analyzing the U.S. 30-year Treasury yield at 5.15% on May 22, 2025, McGlone suggests rising yields could favor gold over Bitcoin. He argues that gold’s historical role as a safe haven asset makes it well-positioned for such conditions.